Connecticut 2025 Regular Session

Connecticut Senate Bill SB01476 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	LCO 1 of 10
	3	+	LCO No. 5666 1 of 10
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5		-	General Assembly ~~Substitute~~ Bill No. 1476
	5	+	General Assembly Raised Bill No. 1476
6	6		January Session, 2025
	7	+	LCO No. 5666
	8	+
	9	+
	10	+	Referred to Committee on HUMAN SERVICES
	11	+
	12	+
	13	+	Introduced by:
	14	+	(HS)
	15	+
7	16
8	17
9	18
10	19		AN ACT CONCERNING THE ABLE ACT.
11	20		Be it enacted by the Senate and House of Representatives in General
12	21		Assembly convened:
13	22
14	23		Section 1. Section 3-39j of the general statutes is repealed and the 1
15	24		following is substituted in lieu thereof (Effective from passage): 2
16	25		As used in this section and sections 3-39k to 3-39r, inclusive, as 3
17	26		amended by this act: 4
18	27		(1) "Achieving a better life experience account" or "ABLE account" 5
19		-	means an account established and maintained pursuant to sections 3-6
20		-	39k to [3-39q] 3-39r, inclusive, as amended by this act, for the purposes 7
21		-	of paying the qualified disability expenses [related to the blindness or 8
22		-	disability] of a designated beneficiary. 9
23		-	(2) "Authorized individual" means an individual or entity who (A) 10
24		-	meets the requirements of 26 CFR 1.529A-2 to establish an ABLE account 11
25		-	on behalf of an eligible individual, and (B) is authorized by the state's 12
26		-	qualified ABLE program to establish or act on behalf of the designated 13
27		-	beneficiary with respect to an ABLE account. 14
28		-	[(2)] (3) "Deposit" means a deposit, payment, contribution, gift or 15
29		-	other transfer of funds. 16
30		-	[(3) "Depositor" means any person making a deposit into an ABLE 17
31		-	account pursuant to a participation agreement.] 18 Substitute Bill No. 1476
	28	+	means an account established and maintained pursuant to [sections 3-6
	29	+	39k to 3-39q, inclusive] section 3-39k, as amended by this act, for the 7
	30	+	purposes of paying the qualified disability expenses [related to the 8
	31	+	blindness or disability] of a designated beneficiary. 9
	32	+	(2) "Authorized individual" has the same meaning as provided in 10
	33	+	Section 529A. 11
	34	+	[(2)] (3) "Deposit" means a deposit, payment, contribution, gift or 12
	35	+	other transfer of funds. 13
	36	+	Raised Bill No. 1476
32	37
33	38
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35	39
36		-	(4) "Designated beneficiary" [means any eligible individual who is the 19
37		-	owner of an ABLE account established under a qualified ABLE 20
38		-	program] has the same meaning as provided in Section 529A. 21
39		-	[(5) "Disability certification" means, with respect to an individual, a 22
40		-	certification to the satisfaction of the Secretary of the Treasury of the 23
41		-	United States by the individual or the parent or guardian of the 24
42		-	individual or an individual establishing an ABLE account pursuant to 25
43		-	subsection (g) of section 3-39k that (A) certifies that (i) the individual has 26
44		-	a medically determinable physical or mental impairment, that results in 27
45		-	marked and severe functional limitations, and that can be expected to 28
46		-	result in death or that has lasted or can be expected to last for a 29
47		-	continuous period of not less than twelve months, or is blind within the 30
48		-	meaning of Section 1614(a)(2) of the Social Security Act, and (ii) such 31
49		-	impairment or blindness occurred before the date on which the 32
50		-	individual attained the age of twenty-six, and (B) includes a copy of the 33
51		-	individual's diagnosis relating to the individual's relevant impairment 34
52		-	or blindness that is signed by a physician who is licensed pursuant to 35
53		-	chapter 370 or, to the extent permitted by federal law, (i) an advanced 36
54		-	practice registered nurse who is licensed pursuant to chapter 378, (ii) a 37
55		-	physician assistant who is licensed pursuant to chapter 370, or (iii) if the 38
56		-	individual's impairment is blindness, an optometrist licensed pursuant 39
57		-	to chapter 380.] 40
58		-	[(6)] (5) "Eligible individual" [means an individual who is entitled to 41
59		-	benefits during a taxable year based on blindness or disability under 42
60		-	Title II or XVI of the Social Security Act, and such blindness or disability 43
61		-	occurred before the date on which the individual attained the age of 44
62		-	twenty-six, provided a disability certification or self-certification with 45
63		-	respect to such individual is filed with the State Treasurer for such 46
64		-	taxable year] has the same meaning as provided in Section 529A. 47
65		-	[(7) "Federal ABLE Act" means the federal ABLE Act of 2014, P.L. 113-48
66		-	295, as amended from time to time.] 49
67		-	[(8)] (6) "Participation agreement" means an agreement between the 50 Substitute Bill No. 1476
	40	+	LCO No. 5666 2 of 10
	41	+
	42	+	[(3) "Depositor" means any person making a deposit into an ABLE 14
	43	+	account pursuant to a participation agreement.] 15
	44	+	(4) "Authorized individual" means a person or entity who (A) meets 16
	45	+	the requirements of 26 CFR 1.529A-2 to establish an ABLE account on 17
	46	+	behalf of an eligible individual, and (B) is authorized by the state's 18
	47	+	qualified ABLE program to establish or act on behalf of the designated 19
	48	+	beneficiary with respect to an ABLE account. 20
	49	+	[(4)] (5) "Designated beneficiary" [means any eligible individual who 21
	50	+	is the owner of an ABLE account established under a qualified ABLE 22
	51	+	program] has the same meaning as provided in Section 529A. 23
	52	+	[(5) "Disability certification" means, with respect to an individual, a 24
	53	+	certification to the satisfaction of the Secretary of the Treasury of the 25
	54	+	United States by the individual or the parent or guardian of the 26
	55	+	individual or an individual establishing an ABLE account pursuant to 27
	56	+	subsection (g) of section 3-39k that (A) certifies that (i) the individual has 28
	57	+	a medically determinable physical or mental impairment, that results in 29
	58	+	marked and severe functional limitations, and that can be expected to 30
	59	+	result in death or that has lasted or can be expected to last for a 31
	60	+	continuous period of not less than twelve months, or is blind within the 32
	61	+	meaning of Section 1614(a)(2) of the Social Security Act, and (ii) such 33
	62	+	impairment or blindness occurred before the date on which the 34
	63	+	individual attained the age of twenty-six, and (B) includes a copy of the 35
	64	+	individual's diagnosis relating to the individual's relevant impairment 36
	65	+	or blindness that is signed by a physician who is licensed pursuant to 37
	66	+	chapter 370 or, to the extent permitted by federal law, (i) an advanced 38
	67	+	practice registered nurse who is licensed pursuant to chapter 378, (ii) a 39
	68	+	physician assistant who is licensed pursuant to chapter 370, or (iii) if the 40
	69	+	individual's impairment is blindness, an optometrist licensed pursuant 41
	70	+	to chapter 380.] 42
	71	+	(6) "Eligible individual" [means an individual who is entitled to 43
	72	+	benefits during a taxable year based on blindness or disability under 44
	73	+	Raised Bill No. 1476
68	74
69	75
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72		-	trust established pursuant to section 3-39k, as amended by this act, and 51
73		-	[depositors] a designated beneficiary or authorized individual that 52
74		-	provides for participation in an ABLE account for the benefit of a 53
75		-	designated beneficiary. 54
76		-	(7) "Qualified ABLE program" means any program established and 55
77		-	maintained pursuant to Section 529A. 56
78		-	[(9)] (8) "Qualified disability expenses" [means any expenses related 57
79		-	to an eligible individual's blindness or disability that are made for the 58
80		-	benefit of an eligible individual who is the designated beneficiary, 59
81		-	including the following expenses: Education, housing, transportation, 60
82		-	employment training and support, assistive technology and personal 61
83		-	support services, health, prevention and wellness, financial 62
84		-	management and administrative services, legal fees, expenses for 63
85		-	oversight and monitoring, funeral and burial expenses, and other 64
86		-	expenses that are approved by the Secretary of the Treasury of the 65
87		-	United States under regulations adopted by the Secretary pursuant to 66
88		-	the federal ABLE Act] has the same meaning as provided in Section 67
89		-	529A. 68
90		-	[(10) "Self-certification" means a certification, under penalty of 69
91		-	perjury, to the satisfaction of the Secretary of the Treasury of the United 70
92		-	States by an individual establishing an ABLE account that (A) certifies 71
93		-	that (i) the individual has a medically determinable physical or mental 72
94		-	impairment that results in marked and severe functional limitations and 73
95		-	that can be expected to result in death or that has lasted or can be 74
96		-	expected to last for a continuous period of not less than twelve months, 75
97		-	or is blind within the meaning of Section 1614(a)(2) of the Social Security 76
98		-	Act, (ii) such impairment or blindness occurred before the date on which 77
99		-	the individual attained the age of twenty-six, and (iii) the person 78
100		-	establishing the account is the individual who will be the designated 79
101		-	beneficiary of the account or is a person authorized to establish such 80
102		-	account under the provisions of subsection (g) of section 3-39k, and (B) 81
103		-	includes the applicable diagnostic code from those listed on Internal 82
104		-	Revenue Service Form 5498 -QA identifying the individual's 83 Substitute Bill No. 1476
	77	+	LCO No. 5666 3 of 10
	78	+
	79	+	Title II or XVI of the Social Security Act, and such blindness or disability 45
	80	+	occurred before the date on which the individual attained the age of 46
	81	+	twenty-six, provided a disability certification or self-certification with 47
	82	+	respect to such individual is filed with the State Treasurer for such 48
	83	+	taxable year] has the same meaning as provided in Section 529A. 49
	84	+	[(7) "Federal ABLE Act" means the federal ABLE Act of 2014, P.L. 113-50
	85	+	295, as amended from time to time.] 51
	86	+	[(8)] (7) "Participation agreement" means an agreement between the 52
	87	+	trust established pursuant to section 3-39k, as amended by this act, and 53
	88	+	[depositors] a designated beneficiary or authorized individual that 54
	89	+	provides for participation in an ABLE account for the benefit of a 55
	90	+	designated beneficiary. 56
	91	+	(8) "Qualified ABLE program" means any program established and 57
	92	+	maintained pursuant to Section 529A. 58
	93	+	(9) "Qualified disability expenses" [means any expenses related to an 59
	94	+	eligible individual's blindness or disability that are made for the benefit 60
	95	+	of an eligible individual who is the designated beneficiary, including the 61
	96	+	following expenses: Education, housing, transportation, employment 62
	97	+	training and support, assistive technology and personal support 63
	98	+	services, health, prevention and wellness, financial management and 64
	99	+	administrative services, legal fees, expenses for oversight and 65
	100	+	monitoring, funeral and burial expenses, and other expenses that are 66
	101	+	approved by the Secretary of the Treasury of the United States under 67
	102	+	regulations adopted by the Secretary pursuant to the federal ABLE Act] 68
	103	+	has the same meaning as provided in Section 529A. 69
	104	+	[(10) "Self-certification" means a certification, under penalty of 70
	105	+	perjury, to the satisfaction of the Secretary of the Treasury of the United 71
	106	+	States by an individual establishing an ABLE account that (A) certifies 72
	107	+	that (i) the individual has a medically determinable physical or mental 73
	108	+	impairment that results in marked and severe functional limitations and 74
	109	+	that can be expected to result in death or that has lasted or can be 75
	110	+	Raised Bill No. 1476
105	111
106	112
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108	113
109		-	impairment.] 84
110		-	(9) "Section 529A" means Section 529A of the Internal Revenue Code 85
111		-	of 1986, or any subsequent corresponding internal revenue code of the 86
112		-	United States, as amended from time to time, and the regulations 87
113		-	adopted thereunder by the United States Department of the Treasury 88
114		-	and the Internal Revenue Service, as amended from time to time. 89
	114	+	LCO No. 5666 4 of 10
	115	+
	116	+	expected to last for a continuous period of not less than twelve months, 76
	117	+	or is blind within the meaning of Section 1614(a)(2) of the Social Security 77
	118	+	Act, (ii) such impairment or blindness occurred before the date on which 78
	119	+	the individual attained the age of twenty-six, and (iii) the person 79
	120	+	establishing the account is the individual who will be the designated 80
	121	+	beneficiary of the account or is a person authorized to establish such 81
	122	+	account under the provisions of subsection (g) of section 3-39k, and (B) 82
	123	+	includes the applicable diagnostic code from those listed on Internal 83
	124	+	Revenue Service Form 5498 -QA identifying the individual's 84
	125	+	impairment.] 85
	126	+	(10) "Section 529A" means Section 529A of the Internal Revenue Code 86
	127	+	of 1986, and any accompanying regulations issued by the U.S. 87
	128	+	Department of the Treasury and the Internal Revenue Service, both as 88
	129	+	amended from time to time. 89
115	130		Sec. 2. Section 3-39k of the general statutes is repealed and the 90
116	131		following is substituted in lieu thereof (Effective from passage): 91
117	132		(a) The State Treasurer (1) shall establish a qualified ABLE program 92
118	133		pursuant to [the federal ABLE Act] Section 529A and sections 3-39j to 93
119	134		[3-39q] 3-39r, inclusive, as amended by this act, and (2) may contract 94
120	135		with any state with a qualified ABLE program [established pursuant to 95
121	136		the federal ABLE Act] to provide residents of this state with access to 96
122	137		such state's program. 97
123	138		(b) (1) Under the program established pursuant to subdivision (1) of 98
124	139		subsection (a) of this section: (A) The State Treasurer shall administer 99
125	140		individual ABLE accounts to encourage and assist eligible individuals 100
126	141		and their families in saving [private] funds to provide support for 101
127	142		eligible individuals, (B) a person may make contributions to an 102
128	143		individual ABLE account to meet the qualified disability expenses of the 103
129	144		designated beneficiary of the account, and (C) the State Treasurer shall 104
130	145		designate a director of outreach for the ABLE program from among the 105
131	146		existing employees of the office of the State Treasurer, who shall 106
	147	+	Raised Bill No. 1476
	148	+
	149	+
	150	+
	151	+	LCO No. 5666 5 of 10
	152	+
132	153		coordinate outreach and marketing efforts concerning ABLE accounts. 107
133	154		(2) For the purposes of such program, there is established within the 108
134	155		Office of the State Treasurer the Connecticut Achieving A Better Life 109
135	156		Experience Trust. The trust shall constitute an instrumentality of the 110
136	157		state and shall perform essential governmental functions, as provided 111
137	158		in sections 3-39j to [3-39q] 3-39r, inclusive, as amended by this act. The 112
138	159		trust shall receive and hold all payments and deposits intended for 113
139		-	ABLE accounts as well as gifts, bequests, endowments or federal, state 114 Substitute Bill No. 1476
140		-
141		-
142		-	LCO 5 of 10
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	160	+	ABLE accounts as well as gifts, bequests, endowments or federal, state 114
144	161		or local grants and any other funds from public or private sources and 115
145	162		all earnings, until disbursed in accordance with sections 3-39j to [3-39q] 116
146	163		3-39r, inclusive, as amended by this act. 117
147	164		(c) (1) The amounts on deposit in the trust shall not constitute 118
148	165		property of the state and the trust shall not be construed to be a 119
149	166		department, institution or agency of the state. Amounts on deposit in 120
150	167		the trust shall not be commingled with state funds and the state shall 121
151	168		have no claim to or against, or interest in, such amounts, except as 122
152	169		provided in subdivision (2) of this subsection. Any contract entered into 123
153	170		by, or any obligation of, the trust shall not constitute a debt or obligation 124
154	171		of the state and the state shall have no obligation to any designated 125
155	172		beneficiary or any other person on account of the trust and all amounts 126
156	173		obligated to be paid from the trust shall be limited to amounts available 127
157	174		for such obligation on deposit in the trust. The amounts on deposit in 128
158	175		the trust may only be disbursed in accordance with the provisions of 129
159	176		sections 3-39j to [3-39q] 3-39r, inclusive, as amended by this act. 130
160	177		(2) The trust shall continue in existence as long as it holds any 131
161	178		deposits or other funds or has any obligations and until its existence is 132
162	179		terminated by law, and upon termination of the trust, any unclaimed 133
163	180		assets of the trust shall [return to the state. Property of the trust shall] be 134
164	181		governed by section 3-61a. 135
165	182		(d) The State Treasurer shall be responsible for the receipt, 136
166	183		maintenance, administration, investment and disbursements of 137
	184	+	Raised Bill No. 1476
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	186	+
	187	+
	188	+	LCO No. 5666 6 of 10
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167	190		amounts from the trust. The trust shall not receive deposits in any form 138
168	191		other than cash. No [depositor] authorized individual or designated 139
169	192		beneficiary may direct the investment of any contributions or amounts 140
170	193		held in the trust other than in the specific fund options provided for by 141
171	194		the trust and shall not direct investments in such specific fund options 142
172	195		more than two times in any calendar year. No interest, or portion of any 143
173	196		interest, in the program shall be used as security for a loan. 144
174	197		(e) A person may make deposits to an ABLE account to meet the 145
175		-	qualified disability expenses of the designated beneficiary of the 146 Substitute Bill No. 1476
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177		-
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	198	+	qualified disability expenses of the designated beneficiary of the 146
180	199		account, provided the trust and deposits meet the other requirements of 147
181	200		this section [, the federal ABLE Act and any regulations adopted 148
182	201		pursuant to the federal ABLE Act by the Secretary of the Treasury of the 149
183	202		United States] and Section 529A. 150
184	203		(f) On or before December 31, 2017, and annually thereafter, the State 151
185	204		Treasurer shall submit (1) in accordance with the provisions of 152
186	205		subsection (a) of section 3-37, a report to the Governor on the operations 153
187	206		of the trust, including the receipts, disbursements, assets, investments 154
188	207		and liabilities and administrative costs of the trust for the prior fiscal 155
189	208		year, and (2) in accordance with the provisions of section 11-4a, a report 156
190	209		on the trust and any contract entered into pursuant to subdivision (2) of 157
191	210		subsection (a) of this section to the joint standing committees of the 158
192	211		General Assembly having cognizance of matters relating to finance and 159
193	212		public health, and shall make such report available to each [depositor] 160
194	213		authorized individual and designated beneficiary. The report required 161
195	214		under subdivision (2) of this subsection shall include, but need not be 162
196	215		limited to: (A) The number of ABLE accounts; (B) the total amount of 163
197	216		contributions to such accounts; (C) the total amount and nature of 164
198	217		distributions from such accounts; and (D) a description of issues relating 165
199	218		to the abuse of such accounts, if any. 166
200	219		(g) An ABLE account may be established (1) by the eligible 167
201	220		individual, (2) by a person selected by the eligible individual, or (3) if 168
202	221		the eligible individual is unable to establish an ABLE account, [on behalf 169
	222	+	Raised Bill No. 1476
	223	+
	224	+
	225	+
	226	+	LCO No. 5666 7 of 10
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203	228		of such individual by, in the following order: Such individual's agent 170
204	229		under a power of attorney, a conservator or legal guardian, spouse, 171
205	230		parent, sibling, grandparent, or a representative payee appointed for the 172
206	231		eligible individual by the Social Security Administration] by an 173
207	232		authorized individual. 174
208	233		Sec. 3. Section 3-39l of the general statutes is repealed and the 175
209	234		following is substituted in lieu thereof (Effective from passage): 176
210	235		The State Treasurer, on behalf of the trust and for purposes of the 177
211		-	trust, may: 178 Substitute Bill No. 1476
212		-
213		-
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	236	+	trust, may: 178
216	237		(1) Receive and invest moneys in the trust in any instruments, 179
217	238		obligations, securities or property in accordance with section 3-39m; 180
218		-	(2) Establish [consistent] terms for [each] the participation agreement 181
219		-	[, bulk deposit, coupon or installment payments] and the administration 182
	239	+	(2) Establish [consistent] terms for [each] the participation agreement, 181
	240	+	[bulk deposit, coupon or installment payments] and the administration 182
220	241		of ABLE accounts, including, but not limited to, (A) the method of 183
221	242		payment into an ABLE account by payroll deduction, transfer from bank 184
222	243		accounts or otherwise, (B) the termination, withdrawal or transfer of 185
223	244		payments under an ABLE account, including transfers to or from a 186
224	245		qualified ABLE program established by another state, [pursuant to the 187
225	246		federal ABLE Act,] (C) penalties for distributions not used [or made in 188
226	247		accordance with the federal ABLE Act] for qualified disability expenses, 189
227	248		and (D) the amount of any charges or fees to be assessed in connection 190
228	249		with the administration of the trust; 191
229	250		(3) Enter into one or more contractual agreements, including, but not 192
230	251		limited to, contracts for legal, actuarial, accounting, custodial, advisory, 193
231	252		management, administrative, advertising, marketing and consulting 194
232	253		services for the trust and pay for such services from the gains and 195
233	254		earnings of the trust; 196
234	255		(4) Procure insurance in connection with the trust's property, assets, 197
235	256		activities or deposits or contributions to the trust; 198
	257	+	Raised Bill No. 1476
	258	+
	259	+
	260	+
	261	+	LCO No. 5666 8 of 10
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236	263		(5) Apply for, accept and expend gifts, grants or donations from 199
237	264		public or private sources to enable the Connecticut Achieving A Better 200
238	265		Life Experience Trust to carry out its objectives; 201
239	266		(6) Sue and be sued; 202
240	267		(7) Establish one or more funds within the trust and maintain 203
241	268		separate ABLE accounts for each designated beneficiary; [and] 204
242	269		(8) Pay for any fees associated with the administration of individual 205
243	270		ABLE accounts; and 206
244	271		[(8)] (9) Take any other action necessary to carry out the purposes of 207
245		-	sections 3-39j to [3-39q] 3-39r, inclusive, as amended by this act, and 208 Substitute Bill No. 1476
246		-
247		-
248		-	LCO 8 of 10
249		-
	272	+	sections 3-39j to [3-39q] 3-39r, inclusive, as amended by this act, and 208
250	273		incidental to the duties imposed on the State Treasurer pursuant to said 209
251	274		sections. 210
252	275		Sec. 4. Section 3-39p of the general statutes is repealed and the 211
253	276		following is substituted in lieu thereof (Effective from passage): 212
254	277		The state pledges to [depositors] authorized individuals, designated 213
255	278		beneficiaries and any party who enters into contracts with the trust, 214
256	279		pursuant to the provisions of sections 3-39j to [3-39q] 3-39r, inclusive, as 215
257	280		amended by this act, that the state will not limit or alter the rights under 216
258	281		said sections vested in the trust or contract with the trust until such 217
259	282		obligations are fully met and discharged and such contracts are fully 218
260	283		performed on the part of the trust, provided nothing in this section shall 219
261	284		preclude such limitation or alteration if adequate provision is made by 220
262	285		law for the protection of such [depositors] authorized individuals and 221
263	286		designated beneficiaries pursuant to the obligations of the trust or 222
264	287		parties who entered into such contracts with the trust. The trust, on 223
265	288		behalf of the state, may include a description of such pledge and 224
266	289		undertaking for the state in participation agreements and such other 225
267	290		obligations or contracts. 226
268	291		Sec. 5. Section 3-39q of the general statutes is repealed and the 227
	292	+	Raised Bill No. 1476
	293	+
	294	+
	295	+
	296	+	LCO No. 5666 9 of 10
	297	+
269	298		following is substituted in lieu thereof (Effective from passage): 228
270	299		The State Treasurer shall take any action necessary to ensure that the 229
271	300		trust complies with all applicable requirements of state and federal laws, 230
272	301		rules and regulations to the extent necessary for the trust to constitute a 231
273	302		qualified ABLE program and be exempt from taxation under [the 232
274	303		federal ABLE Act, and any regulations adopted pursuant to the federal 233
275	304		ABLE Act by the Secretary of the Treasury of the United States] Section 234
276	305		529A. 235
277	306		Sec. 6. Section 3-39r of the general statutes is repealed and the 236
278	307		following is substituted in lieu thereof (Effective from passage): 237
279	308		(a) Notwithstanding any provision of the general statutes, to the 238
280		-	extent permissible under federal law, moneys invested in an individual 239 Substitute Bill No. 1476
281		-
282		-
283		-	LCO 9 of 10
284		-
	309	+	extent permissible under federal law, moneys invested in an individual 239
285	310		ABLE account, contributions to an individual ABLE account and 240
286	311		distributions for qualified disability expenses pursuant to sections 3-39j 241
287	312		to 3-39q, inclusive, as amended by this act, shall be disregarded for 242
288	313		purposes of determining an individual's eligibility for assistance under 243
289	314		[the (1) temporary family assistance program, as described in section 244
290	315		17b-112, (2) programs funded under the federal Low Income Home 245
291	316		Energy Assistance Program block grant, (3) the state-administered 246
292	317		general assistance program, as described in section 17b-191, (4) the 247
293	318		optional state supplementation program, as described in section 17b-248
294	319		600, to the extent such invested moneys, contributions and distributions 249
295	320		may be disregarded under the federal Supplemental Security Income 250
296	321		Program, and (5) any other federally funded assistance or benefit 251
297	322		program, including, but not limited to, the state's medical assistance 252
298	323		program, whenever such program requires consideration of one or 253
299	324		more financial circumstances of an individual for the purpose of 254
300	325		determining the individual's eligibility to receive any assistance or 255
301	326		benefit or the amount of any assistance or benefit] any means-tested 256
302	327		public assistance program administered by the state or any political 257
303	328		subdivision of the state. 258
	329	+	Raised Bill No. 1476
	330	+
	331	+
	332	+
	333	+	LCO No. 5666 10 of 10
	334	+
304	335		(b) Notwithstanding any provision of the general statutes, no moneys 259
305	336		invested in the ABLE accounts shall be considered to be an asset for 260
306	337		purposes of determining an individual's eligibility for need-based, 261
307	338		institutional aid grants offered to an individual at the public eligible 262
308	339		educational institutions in the state. 263
309	340		This act shall take effect as follows and shall amend the following
310	341		sections:
311	342
312	343		Section 1 from passage 3-39j
313	344		Sec. 2 from passage 3-39k
314	345		Sec. 3 from passage 3-39l
315	346		Sec. 4 from passage 3-39p
316	347		Sec. 5 from passage 3-39q
317	348		Sec. 6 from passage 3-39r
318		-	Substitute Bill No. 1476
319	349
	350	+	Statement of Purpose:
	351	+	To update the ABLE Act for qualified disability expenses in accordance
	352	+	with federal law.
320	353
321		-	LCO 10 of 10
322		-
323		-	Statement of Legislative Commissioners:
324		-	In Section 1(1), "3-39q" was changed to "[3-39q] 3-39r" for consistency, in
325		-	Section 1(2), the definition of "authorized individual" was deleted and
326		-	replaced with the definition of "authorized individual" in Section 1(4)
327		-	for clarity and the remaining subdivisions in Section 1 were
328		-	redesignated accordingly for accuracy, and in Section 1(9), the definition
329		-	of "Section 529A" was rewritten for consistency with standard drafting
330		-	conventions.
331		-
332		-	HS Joint Favorable Subst. -LCO
	354	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
	355	+	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
	356	+	underlined.]
333	357